Drake Terrace in Monterey Hills

Drake Terrace in Monterey Hills is an 87 unit condominium complex in Monterey Hills. Monterey Hills is a planned community within the city of Los Angeles with easy access to Downtown Los Angeles, the San Gabriel and San Fernando Valleys as well as LA’s Westside. Its highly convenient location is a popular option for students or professionals at USC Health Science Campus.

Built in 1981, the Drake Terrace complex is comprised of three distinct buildings: 4141 and 4147 Via Marisol and 4209 Via Arbolada. Each building has a central courtyard and there are no interior hallways in the complex. Drake Terrace has a pool(check out its shape), spa and a sports court all on lushly landscaped grounds. There is elevator service in each building with subterranean parking. The units range in size from one bedroom/den/one bath to two bedrooms/den/two baths. Each single level home has laundry connections, a fireplace and either a patio or balcony area.

There are currently no properties on the market for sale -- one unit(a short sale is in escrow). According to our local multiple listing service(MLS) there have been two sales as of July 11, 2012 with an average and median sales price of $212,000. In 2011(entire year) there were five sales with an average sale price of $231,500(median $225,000).

Are you a Drake Terrace homeowner, possible buyer or just curious about Drake Terrace, I am available to answer your questions and if you would like more detailed information regarding Drake Terrace or any community within Monterey Hills, contact me. My name is Michael Jacobs at 818.516.4393 cell or michaeljacobs@coldwellbanker.com.

Hi Michael - Drake Terrace is another great looking development. You have the inside line on a huge variety of very high quality residential complexes in your area. Anyone interested in buying a home in the area should take advantage of your encyclopedic knowledge and expert assistance.

Hey John --- we're having a day in the 90s today so any respite whether in a pool or just a cold shower provides some nice relief.

Hi Dick -- the way that Drake Terrace was built in clusters of condos provides a bit more intimate feel than one might find in complexes of this many units. Thanks very much for your kind words -- I appreciate them very much.

Michelle -- thanks very much --- inventory of condos(and townhomes) in Monterey Hills remains very low. Homeowners who are thinking of selling may be able to realize much better results than in recent years as home buyers and investors are very interested in this area.

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